The Indian automotive battery major has announced the setting up of a 50 MW solar power plant in Chittoor District of Andhra Pradesh. The plant—to be built at INR 220-crore investment—will help reduce the manufacturer’s carbon footprint while lowering its electricity bill. The firm, which has already set up a pilot plant facility for Lithium-ion cell development, is also mulling investments into energy storage for the renewables sector.
The 6.4 GW auction success takes the state government closer to its 10 GW solar target to provide free, uninterrupted power supply to farmers during the daytime.
The Andhra Pradesh solar auction was oversubscribed by 8.5 GW, but the final prices are significantly higher than the INR 1.99-2.00/kWh record-low tariffs discovered in recent auctions.
Solar power developers have until December 28 to bid for an aggregate 6.4 GW of grid-connected solar power capacity, which shall come up across ten locations in the state. The Andhra Pradesh Green Energy Corporation Ltd (APGECL) will serve as the offtaker and supply the power procured from these projects to meet the demand of agricultural loads in the State.
Private equity investor Actis has completed the acquisition of Haryana-based Acme Solar’s 400 MW PV assets in the states of Andhra Pradesh and Madhya Pradesh.
The overall energy outlay of Rs 6984.73 crore for the year 2020-21 is much lower than 2019-20’s revised estimate of Rs 11,639 crore.
The state—which commissioned an aggregate 3530.74 MW solar capacity as of May 31, 2020—will set up the new plants to ensure nine hours of free power supply to the agriculture sector.
The New Delhi-based developer posted a Rs136 crore loss from October to the end of December but has managed to shift current liabilities into the long grass as it aims to continue on an expansionist trail, backed by the Canadian pension fund which holds almost half its shares.
Capacity additions for the current fiscal year are set to exceed the previous accounting period’s 8,532 MW. With Rs405 billion invested in clean energy in the last fiscal year, spending in the first nine months of 2019-20 has been estimated at Rs367 billion.
The proposed model is said to perform better at energy prediction than software tools such as PVWatts, PVSyst or RetScreen. The approach was validated on two 5 MW PV plants in the same district of the Indian state of Rajasthan.
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